Cambridge Trust Co. Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cambridge Trust Co. lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 136,898 shares of the financial services provider’s stock after purchasing an additional 1,370 shares during the quarter. Cambridge Trust Co.’s holdings in Intercontinental Exchange were worth $17,582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after acquiring an additional 8,348,126 shares in the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $579,605,000. T. Rowe Price Investment Management Inc. grew its stake in Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after purchasing an additional 5,354,161 shares in the last quarter. Morgan Stanley increased its holdings in Intercontinental Exchange by 18.9% during the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Intercontinental Exchange by 59.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 1,589,999 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.14 on Thursday, hitting $130.60. The company had a trading volume of 920,201 shares, compared to its average volume of 2,384,698. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a market cap of $74.78 billion, a PE ratio of 31.07, a PEG ratio of 2.06 and a beta of 1.02. The business has a 50-day simple moving average of $136.42 and a 200-day simple moving average of $124.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. Research analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.38%. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the transaction, the insider now owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the transaction, the senior vice president now directly owns 18,383 shares in the company, valued at $2,501,742.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Rosenblatt Securities lifted their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Barclays raised their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $147.08.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.